Cobee raises €14 million in Series A funding round led by Balderton Capital
By Megha Bhattacharya
Cobee, a European employee benefits management digital platform, has raised €14 million in Series A funding led by the leading European venture capital firm Balderton Capital. Invested also joined the round along with previous investors SpeedInvest, Target Global, Encomenda and Lanai, as well as angels from Zalando, N26, Uber and Gympass.
Borja Aranguren, Co-founder and CEO of Cobee, says: “Attracting great talent isn’t just about offering a competitive salary, employees are increasingly interested in workplace benefits too. We’ve built Cobee to provide the best possible experience for employees, giving them more access and control over their compensation and empowering them to use these critical benefits. We’re delighted to have the support of Balderton Capital and will use the funding to continue to invest in our platform and help HR teams across Europe improve staff loyalty and attract the very best talent.”
With the new Series A funding, Cobee will continue to invest in improving the user experience for customers and their teams. It plans to integrate new benefits with a greater focus on financial products and services, as well as adding more wellbeing perks such as wellness programmes and entertainment platforms. This will allow Cobee to serve even more customers across Europe who are looking for ways to offer bespoke and personalised compensation packages to their employees.
Suranga Chandratillake, General Partner at Balderton Capital, says: “Employees are the most important resource for companies today, so ensuring that they are happy and engaged results in higher retention rates. Providing them with a rich, easily accessible and reportable array of benefits that they can use every day is key for anyone looking to acquire and retain great talent. Cobee makes this possible and offers more benefits, in more territories, than any other next-generation platform today.”